High inflation could lead to a recession later this year

OMAHA, N.E.(WNAX)- Continued high inflation may lead to an economic recession later this year.

Creighton University economics professor Ernie Goss says rising prices will be a drag on the economy.

Goss says supply chain issues should ease.

The Federal Reserve raised interest rates a half percentage earlier this month. Goss says that will also impact long term interest rates.

The CPI, or consumer price index hit eight-point five four percent last week.